BuaNews (Tshwane)
11 December 2007
Bali — Following ten days of intense negotiations in climate negotiations in Bali, a fund is to be set up to assist developing nations deal with this phenomenon.
"By late last night negotiators clinched a deal to officially launch the multilateral Adaptation Fund. South Africa led the negotiations on this issue for the largest negotiating bloc, the G77 & China, which represents 130 developing countries," Minister of Environmental Affairs and Tourism, Marthinus van Schalkwyk said, from the UN Conference on Climate Change.
The purpose of the Fund is to assist vulnerable developing countries to adapt to the inevitable impacts of climate change.
It will be worth up to $500 million per year by 2012, and is expected to grow exponentially beyond 2012.
"The decision constitutes a major victory for the developing world in setting in place a new governance system for funding of adaptation activities that are aimed at expedited and direct access to the Fund, whose operations will be guided by an independent Adaptation Fund Board," said Minister van Schalkwyk.
Another major breakthrough for the developing group was the fact that the majority of members would come from developing countries and that if any voting on decisions would be needed, this will take place on the basis of one country one vote.
The minister explained that our Cabinet mandate was to establish a transparent and fair governance regime under an Adaptation Fund Board, with direct access for developing countries, and a secretariat to be provided by the Global Environment Facility.
"Our aim was also to ensure that this Fund will be exempt from the decision-making procedures of the GEF, to give developing countries a more direct and equitable voice in how funds are prioritised and spent," he added.
The possibility of direct access to the Adaptation Fund by eligible parties was of major concern for the Group of 77.
The G77 did not want to continue a process where they would be forced to use implementing agencies.
After agreeing to include criteria relating to financial responsibility and the ability to deliver the projects, it was agreed that eligible countries will have direct access to the Fund.
The appointment of a secretariat and trustee was of the most contentious aspects of the decision, given the negative experiences that most developing countries have with their interaction with the GEF and the World Bank in respect of the funding of climate related projects.
In the end it was decided that the GEF and the World Bank will be appointed on an interim basis and that this arrangement will be subjected to a rigorous review.
Nominations for the Board will now be requested and the Board is to urgently start its work in 2008.
The UN Climate Change Conference in Bali will continue until 14 December as delegates discuss issues including post-2012, when the Kyoto Protocol's first commitment period expires.
In particular, delegates seek to agree on a negotiating process to finalise a post-2012 regime.
Other issues include the Kyoto Protocol's flexible mechanisms, reducing emissions from deforestation in developing countries, technology transfer, financial issues, and issues relating to adaptation, including the Adaptation Fund.
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